The 'Transferring the Financed Party' is used to replace the financed party of the contract including the necessary rebooking of liability. The Liability is booked out of the account of the Old party and will be booked in of the account of the New Party.
In case the new party is not to be debited with fees settled with temporary settlements, the temporary settlement has to be settled with the previous party, before transferring to the new party.
A message will be created for the new party as well as for the old party. The message advises the transfer of the party and the settlement of fees, if applicable.
To exchange the financed party of the contract, TRTTRF transaction is used.
Select it from the menu item[Financing Products -> Loan -> Other > Transfer Financed Party ].
When you have made your changes, click on the ( ) Save function to save all the the data entered in the transaction to the database.